Hydrogen Storage Alloy Market is projected to Reach US$ 8,352.3 Million by 2035 with 8.5% CAGR | Fact.MR Report

Growing Demand of Hydrogen Storage Alloys Across Various Industries is Driving the Market

Rockville, MD, Feb. 17, 2025 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global hydrogen storage alloys market is estimated to reach a valuation of US$ 3,674.1 million in 2025 and is expected to grow at a CAGR of 8.5% during the forecast period of (2025 to 2035).

Hydrogen storage alloys are metal hydrides, which can chemically bond with hydrogen and release it when needed. Such materials that can absorb and release hydrogen gas. They offer several advantages, including high storage density, safety and, reversible storage.

The key players in the hydrogen storage alloy market are innovating advanced materials including metallic hydrides and complex hydrides, which have considerable advantages such as energy density and safety. These materials could store hydrogen at relatively lower pressures and temperatures than is possible in traditional gas storage, thus making them suitable for a wide array of applications. Rapid technological advancements and growing investments in research and development characterize the market.

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Key Takeaways from Market Study:

• The global hydrogen storage alloys market is projected to grow at 8.5% CAGR and reach US$ 8,352.3 million by 2035
• The market created an absolute $ opportunity of US$ 1,630.8 million growing at a CAGR of 8.5% between 2025 to 2035
• North America is a prominent region that is estimated to hold a market share of 31.6% in 2034
• North America and East Asia are expected to create an absolute $ opportunity of US$ 2,967.1 million collectively

“Environmental awareness, adoption across various industries, and technological advancement in hydrogen storage systems will drive the market” says a Fact.MR analyst.

Leading Players Driving Innovation in the Hydrogen Storage Alloy Market:

INOXCVA; HBank Technologies Inc.; Pragma Industries; Croyolor; Air Liquide ; Worthington Industries , Inc.; Linde ; Luxfer Holdings PLC; Hexagon Composites ASA; Chart Industries ; American Elements; AMG Titanium Alloys & Coatings LLC; Jiangmen Kanhoo Industry Co. Ltd; Xiamen Tungsten Co. Ltd; Baotou Santoku Battery Materials Co. Ltd.; Santoku Corporation; Among Others.

Market Development:

Research using ANI has become increasingly important in all sectors of research and development including hydrogen storage research have outlined the importance of interconnectivity of disciplines and further utilizing this transdisciplinary approach in AI to enhance the utility of AI for materials discovery.

Partnerships between the government and the private sector are likely to enhance investment in hydrogen technology. Partnerships may be able to speed up the processes and open the market up further, thereby boosting a stronger hydrogen economy. The hydrogen fuel cell commercial vehicle will benefit the most if there is increased focus on the development of safe and scalable storage solutions to allow for further expansion.

• For instance, in December 2024, China Northern Rare Earth announced that the company manufactures and sells high-performance rare earth-based hydrogen storage alloy powders. It occupies market share of around 30%, ranking among the top in the domestic industry. New, solid-state hydrogen storage materials and devices, having high hydrogen storage density, good safety, and mature production processes, are applied in stationary fields of hydrogen energy.

Hydrogen Storage Alloy Industry News:

• Scalmalloy CX, a new product created by APWORKS in August 2024, is intended for cryogenic applications, particularly those involving hydrogen propulsion. A noteworthy advancement in materials research, Scalmalloy CX is made especially for use in cryogenic applications. This second (or third) generation material is revolutionary for sectors like aerospace, where weight and performance are crucial considerations, because it is made to retain remarkable mechanical qualities even at very low temperatures.
  
  
• The capacity of Scalmalloy CX to tolerate the high stresses seen at cryogenic temperatures without losing structural integrity is its defining feature. This is crucial for applications involving the storage and pumping of liquid hydrogen where material failure might have disastrous consequences.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global hydrogen storage alloys market, presenting historical data for 2019 to 2023 and forecast statistics for 2025 to 2035.

The study reveals essential insights on the basis of the by classes (AB5-type alloys, AB3-type alloys, A2B7-type alloys, AB2-type alloys, AB-type alloys, Mg-based alloys, V-based solid solution alloys), by application (rechargeable batteries, cooling devices, fuel cells) and across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

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